Bank

Kevin

DeFi

Planet

Keyrock, a global crypto market maker and liquidity provider, has <a style="color: #0000ff;" href="https://x.com/KeyrockTrading/status/1845796950265761989?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1845796950265761989%7Ctwgr%5E71033225db51bf0e58f8541d034e127dd11bc8b0%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fripple-backed-keyrock-teams-up-with-deutsche-bank-to-expand-fx-services%2F" rel="noopener noreferrer nofollow">entered</a> a strategic partnership with Deutsche Bank, one of Germany’s leading banks, to strengthen its payment and foreign exchange operations.
<a href="https://keyrock.com/keyrock-enters-strategic-partnership-with-deutsche-bank/" rel="noopener noreferrer nofollow">In an October 14 press release</a>, the Brussels-based firm announced that its partnership with Deutsche Bank will utilise the bank’s institutional-grade infrastructure to enhance its operations. The collaboration provides access to multi-currency accounts in over ten currencies and integrated FX services, improving settlement times with counterparties across the EMEA, APAC, and LATAM regions.
<blockquote>
 “Working with Deutsche Bank allows us to collaborate with one of the most respected institutions in global finance,”
</blockquote>
 Kevin de Patoul, Keyrock’s chief executive officer, noted.
The partnership is expected to boost Keyrock’s capacity to execute FX spot trades with near-instant settlements, optimising its management of fiat currencies. According to the press release, consolidating services with a single provider will help reduce “counterparty and settlement risks.”
Kilian Thalhammer, Deutsche Bank’s global head of merchant solutions, highlighted the partnership’s significance, stating that it 
<blockquote>
 “aligns with our strong commitment to supporting tech and fintech innovation.”
</blockquote>
Keyrock has been active in the crypto space, securing <a href="https://twitter.com/KeyrockTrading/status/1706622816420859941?t=_Mp85686chUjQEa4zF1yLg&amp;s=19" rel="noopener noreferrer nofollow">approval</a> in September 2023 from the Swiss Financial Services Standards Association to operate as a financial intermediary in Switzerland, enabling it to offer services to crypto businesses.
Deutsche Bank, on the other hand, has been entering strategic partnerships, including one with <a style="color: #0000ff;" href="https://defi-planet.com/2024/06/deutsche-bank-partners-with-bitpanda-to-streamline-fiat-transactions-for-german-crypto-users/" rel="noopener noreferrer nofollow">Austrian crypto exchange Bitpanda</a> to handle fiat deposits and withdrawals. According to an official statement, Deutsche Bank will provide Bitpanda users in Germany with local bank account numbers for fiat transactions, though it won’t handle crypto transactions directly. Bitpanda, with over 4 million users, offers a range of digital financial products, including fractional stocks, cryptocurrencies, and precious metals.
Similarly, the bank <a style="color: #0000ff;" href="https://defi-planet.com/2024/05/deutsche-bank-joins-singapores-central-bank-project-to-explore-asset-tokenization-and-defi/" rel="noopener noreferrer nofollow">joined the Monetary Authority of Singapore’s (MAS) Project</a> Guardian, which focused on tokenizing assets in wholesale funding and DeFi markets. As part of its asset and wealth management strategy, the bank experimented with an open, interoperable blockchain platform to manage tokenized funds. The aim was to propose protocol standards and identify best practices to advance the industry.
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The post <a href="https://defi-planet.com/2024/10/keyrock-partners-with-deutsche-bank-to-expand-fx-services/" rel="noopener noreferrer nofollow">Keyrock Partners with Deutsche Bank to Expand FX Services</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Keyrock Partners with Deutsche Bank to Expand FX Services

DeFi Planet

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